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My thought is the equity idea proposed by Kamala Harris will not work very well in business. I think equity can work in our educational systems, but it will not work very well for corporations. The main reason is a pay for performance culture is the best way to get results we need to improve our world. Please read this entire post.
https://www.salary.com/blog/what-is-pay-for-performance-compensation/
I do think something needs to change as women often get paid less for identical work, and this is not fair. The system is unfair, but this is often due to billionaires, not the middle class. It was billionaires who took government handouts and gave themselves bonuses and gave loans to senators.
We are all crew members on planet earth, and we do need a fairer system, but I think equity will be used to target the middle class and the poor, so they get paid less overall as a group.
It is crucial to understand business is about execution and getting results.
Consider this case where 2 women have the same job.
Woman A: Works insanely hard (18 hour days) makes great sacrifices, and brings in 2 million dollars of profit for her company ACME by a massive yearlong effort building widgets. She eats lunch at her desk each day, drinks red bull, and is 100% committed to work. She gives up her free time so that she can do more work. She will always return work phone calls and work e-mail after 5 pm. She works late every night and every weekend. Next year she plans to bring 4 million for her company.
Woman B: Does not do much work. Brings in only 10,000 dollars in profit building widgets for the same year period for her company ACME. She works only 6 hours a day and enjoys 2-hour lunches with a glass of wine. She refuses to return work phone calls and work e-mail after 3 pm. She never works weekends. Next year she plans to bring in only $8,000.
Should Woman B and Woman A make the same salary even though they both have the same job category? I would argue that Woman A should be paid more based on her sacrifices and performance.
I worked two jobs in college (-40 hours, mostly graveyard shifts), and often, at the end of the month I was out of money and had to live on rice and soy sauce for over 2 weeks. I did not complain once because a lot of the world lives this way all the time, and I at least had a roof over my head.
Today I use my college knowledge to save lives as a docer, why should my incentives to work hard be reduced? If I did not go to college I will not be able to save lives like I do now.
The equity cartoons are cool and have some use in the education system but has anybody really thought this through on what it means for our GDP if we lose the pay for performance system and stop rewarding actual work output? Where is the written system that spells out how this idea is going
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